Global Automotive Robotics Market is Expected to Grow at a CAGR of above 11% from 2016 to 2024 | Industry Report by Hexa Research

October 2622:562016

Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future

Key factors influencing the “automotive robotics market” include an increase in manufacturing quality, advanced artificial intelligence in robotics, growing frequency of production by fast throughputs and low labor cost. Asia Pacific is expected to grow at a high CAGR as car manufacturing companies are shifting their manufacturing bases in this region due to their low production cost.

The global automotive robotics market is expected to grow at a CAGR of above 11% from 2016 to 2024. The automotive industry is witnessing a high growth due to increasing demand for automobiles including trucks, cars, off-road vehicles, and buses in the Asia Pacific and Latin American countries. Automotive robots are used for assisting in the motor vehicle manufacturing process.

Key factors influencing the automotive robotics market include an increase in manufacturing quality, advanced artificial intelligence in robotics, growing frequency of production by fast throughputs and low labor cost. The usage of automotive robotics helps reduce the cost incurred on non-efficient laborers, medical expenses and insurance for employees; it also reduces time incurred on critical processes leading to efficiency in the manufacturing industry.

Increased investments in production capabilities of emerging countries are expected to spur the market growth. Modernization in the manufacturing process of automobiles, lack availability of skilled labor and focus for quality control is anticipated to propel the demand for the automotive robotics.

The main hindrance for automotive robotics market is its high capital investments and the compulsion of obtaining skilled labor for operating robotic machines. Another restraint hindering the growth of this market is fewer guarantees on the return on investment. There is a lack of skilled labor specialized and talented in the various areas for handling robotic functions such as embedded, electrical, mechanical, and software activities.

The global automotive robotic market by systems is segmented into SCARA, articulated, Cartesian, software, and services. All the different types of robots have a unique application in the manufacturing of automobiles. Articulated robots have a dominant market share and is expected to grow at the highest CAGR over the forecast period. Increasing use of articulated robots in material handling, packaging, machine loading, parts cleaning, pick & place, cutting, polishing, grinding, gluing, sealing, welding, palletizing, press transfer, handling of metal casting, and deburring is anticipated to propel market demand.

SCARA robots are mainly used for screw tightening, finished product inspection, assembly cells, etc. in the automobile industry. Based on the function the automotive robotics market consists of welding, assembling, disassembling, and painting. The robots are designed to handle the various functions which save time and improves manufacturing efficiency rate.

Applications of the automotive robotics market are robotic painting, welding, assembling, cutting and dispensing. Automotive Robotics are also used in material handling applications such as automated guided vehicles (AGV). The unique specialty of automotive robots is their vision of finding minute differences in the manufacturing and handling activities.

Robot-robot collaboration increases efficiency and quality of the product, which majorly happens in handling robots and welding robots. The robotic hand is used in the final stage of work for assembling parts with accuracy.

Asia Pacific is the leading automotive robotic market due to its high customer base for automobiles and enhanced technology development. Asia Pacific is expected to grow at a high CAGR as car manufacturing companies are shifting their manufacturing bases in this region due to their low production cost. High technological adaptation and lack of skilled labor are also some of the major factors contributing to the growth of this region. The increase in demand for automobiles and growing investments is anticipated to contribute to the growth in this region.

Companies in the automotive robotics market are involved in high research & development activities to achieve product innovation and technological advancement. Mergers & acquisitions are some of the strategic initiatives undertaken by companies to enhance their penetration in the market. For instance, in March 2016, ABB Group has achieved a robot order from Valmet Automotive to produce Mercedes SUV, it was the largest order ever received in Finland. In 2015, ABB launched the revolutionary YuMi Robot, which works alongside human designed with a dual arm industrial robot.

KUKA AG is urging to bring a revolution in the robotics industry by developing sensitive, safe, and mobile robot-based automation. The KUKA Mobile robotics IIWA robot has specifications such as flexibility, maneuverability, autonomous navigation, simple operator control, and utmost precision. FANUC Corp. has a persistent focus on research and development to preserve its competitive edge. In 2015, FANUC Corp. introduced the world’s premier highly portable collaborative robot named CR-35iA, which is capable of holding an object as heavy as 35 kilograms.

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.